• Upside in sales was largely due to strong double digit growth in all business of the company. Segment revenue of wires & Cables (W&C) was up by 21% to Rs 1922.17 crore (or 84% of sales). The segment revenue of FMEG and others was up by 42% (to Rs 195.62 crore or 9% of sales) and 57% (to Rs 163.78 crore or 7% of sales).

• EBIT was up by 31% to Rs 230.79 crore with strong growth from all the business especially the core W&C business. The core W&C business registered 15% growth in segment profit to Rs 201.13 crore largely due to higher sales as its segment margin eroded by 50 bps to 10.5%. On the other hand the FMEG business turned in a profit of Rs 6.55 crore against a loss of Rs 2.78 crore in corresponding previous period. The segment profit of others zoomed up by 506% to Rs 23.11 crore.

• With OI stand higher at Rs 12.43 crore against an expense of Rs 2.26 crore, the PBIDT was up by 33% to Rs 284.14 crore. The interest cost was down by 65% to Rs 12.71 crore. And thus the PBDT was up by 52% to Rs 271.44 crore. The depreciation was up by 9% to Rs 39.53 crore and thus the PBT was up by 64% to Rs 231.91 crore. And with interest cost more than double (up 111%) to Rs 0.06 crore and depreciation down by 3% to Rs 1.31 crore, the PBT was dragged down by 41% to Rs 4.60 crore.

• With taxation (net of deferred tax) for the period being down by 26% to Rs 36.49 crore, the PAT more than doubled (up 111%) to Rs 195.41 crore. The share of profit from associate was a loss of Rs 1.62 crore, a fall of 47%. The minority interest was higher by 547% to Rs 1.97 crore. Thus the net profit after MI was up by 115% to Rs 191.83 crore.

Half yearly performance

Sales for the period was up by 20% to Rs 4193.27 crore. With OPM expand by 60 bps that along with higher sales facilitated 26% growth in operating profit to Rs 495.34 crore. The PBT was up by 65% to Rs 438.27 crore gained by higher other income, lower interest and lower depreciaton (as % of sales). The taxation was up by 17% to Rs 107.81 crore and thus the growth at PAT was 91% to Rs 330.47 crore. Eventually the net profit after MI was up by 97% to Rs 326.34 crore.

Commenting on the financial performance, Inder Jaisinghani, Chairman and Managing Director, Polycab India, said: "We have delivered another quarter and half year of robust growth. Our profitability has more than doubled during the quarter and our customer centric focus and robust distribution network have ensured that we maintain our growth momentum. Going forward, we remain committed to delivering consistent and profitable growth"